A former Clovis High football player who admitted to operating a real estate Ponzi scheme has been sentenced to nearly 13 years in federal prison and ordered to pay $19.6 million in restitution to his victims.
In March, Seth Adam DePiano, 36, pleaded guilty in U.S. District Court in Fresno to mail fraud, wire fraud and money laundering in a scheme to defraud 28 investors of about $24 million. In a plea deal with the U.S. Attorney's Office, he agreed to forfeit more than $700,000 seized from his bank accounts and a collection of nearly 1,000 baseball cards valued at more than $31,000. DePiano also waived his right to appeal his sentence.
DePiano faced a maximum of 20 years in federal prison for the mail and wire fraud charges and 10 years maximum for money laundering. Judge Dale Drozd, however, on Tuesday sentenced DePiano to 151 months in prison and ordered him to pay $19,659,357 in restitution. (continued)
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